S&P 500 Bulls Breaking 7,175 as GDP, Core PCE and AI Momentum Support A May Rally
12-brick Renko chart of the SPX 500 Index
Source: TradingView
The Verdict
Current Trend Direction: Bullish
Bias: Positive
Support Levels: 6,310, 6,920
Resistance Levels: 7,450, 8,150
Medium Term Path: To me this move is looking like a springboard for the S&P 500 The 7,200 level is acting as the immediate breakout zone.
Read MoreHow major US stock indexes fared Thursday 4/30/2026
The U.S stock market motored to more records as profits keep piling up for big businesses.
The S&P 500 rallied 1% Thursday and topped its prior all-time high to finish its best month in more than five years. The Dow Jones Industrial Average jumped 1.6%, and the Nasdaq composite climbed 0.9% to its own record.
» Read more about: How major US stock indexes fared Thursday 4/30/2026 »
Read MoreUS Economy Grows 2% Despite Iran War Oil Shock, But Risks Loom
While rising energy prices did dampen growth somewhat, private investment, consumer spending, and government expenditures remained relatively strong during the period.“On net it’s a solid number. Consumer spending has held up,” said Jason Draho, head of asset allocation for the Americas at UBS. However, he cautioned that this strength “could be fully offset” if higher energy prices persist for the next six months.
» Read more about: US Economy Grows 2% Despite Iran War Oil Shock, But Risks Loom »
Read MorePlain Talk: 'We haven't gotten better deals' out of Trump's trade war
MINOT — When asked on this episode of Plain Talk about the justification that President Donald Trump’s erratic regime of tariffs is necessary to flex America’s economic might and negotiate better deals, John Bitzan, director of the Challey Institute at North Dakota State University, argued that the strategy has not worked.
“We haven’t gotten better deals out of this,”
3 Energy Stocks Poised to Outshine Earnings Estimates in Q1
We have reached the middle of the first-quarter earnings season, with most of the energy giants having already reported results. Since the energy business environment was favorable in the March quarter, thanks to high commodity prices, backed by the Iran war, APA Corporation APA, Archrock, Inc. AROC and Devon Energy Corp.
» Read more about: 3 Energy Stocks Poised to Outshine Earnings Estimates in Q1 »
Read MoreThe Burst
Did Zuckerberg Just Have His iPhone Moment?
Last week Mark Zuckerberg unveiled Meta Platforms (NASDAQ: META) latest hardware product, Orion augmented reality glasses,
As it ventures deeper into the world of AR and wearable technology, there’s a very real possibility that this is Meta’s “iPhone moment,” revolutionizing the tech landscape as Apple’s iconic smartphone did in 2007.
» Read more about: Did Zuckerberg Just Have His iPhone Moment? »
Read MoreThe Ivy
Philip Morris Surges 75%, Is Its Smoke-Free Pivot a Game Changer?
Shares of cigarette giant Philip Morris (NYSE:PM) have advanced considerably over the last year. The tobacco stock, long looked at mostly for its high dividend yield, has surged by over 75% in the last 12 months and over 20% in the last 30 days alone.
Why has PM stock rallied so far,
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Read MoreThe Spotlight
Spotlight: Should Sweetgreen Be 50% Higher?
CAVA debuted on the New York Stock Exchange on June 16, selling 14.4 million shares and raising a cash hoard of $318 million at a valuation just under $2.5 billion.
Eagle-eyed investors were stunned to see the share price soar by as much as 117%, before ultimately closing at $43.78 per share, slightly above its $42 open.
» Read more about: Spotlight: Should Sweetgreen Be 50% Higher? »